A moderately strong earthquake in a central Philippine province has sent people rushing outside in panic.

Renato Solidum of the Philippine Institute of Volcanology and Seismology said the quake with a preliminary magnitude of 5.2 struck on Tuesday morning and was centred just three kilometres north of Masbate City on the island province of Masbate.

The quake, which was caused by movement in a local fault, was felt in nearby provinces.

Socrates Tuason, the mayor of Masbate, told The Associated Press news agency by telephone that there were no immediate reports of major damage, and power and communications were unaffected in his hillside city of 90,000 people.

But the quake caused cracks and shattered windows in houses and some buildings, one of which had to be cleared of people while safety officials ensured its stability.

Large numbers of people rushed out of homes, offices, hospitals and schools and stayed in the streets as an aftershock hit less than an hour after the quake.

At least five people were slightly injured by falling objects, he said.

"I was having breakfast with my wife when everything started to shake. The TV set and glasses fell off the table," Tuason said. "When I got out, I saw all the people in the community were on the streets."

Disaster-response and first aid teams were deployed across the city, Tuason said, adding that he had sent officials to check a report that an abandoned, three-story building has collapsed in a residential area in the business district, Tuason said.

Classes in all schools were suspended as buildings were checked for damage, he said, adding that he called an emergency meeting to deal with any contingency.

The Philippines is in the so-called Pacific "Ring of Fire," where earthquakes and volcanic activity are common. The damage and casualties are compounded by poor construction in violation of building codes.

In 1990, a magnitude-7.7 quake killed nearly 2,000 people in northern Luzon region.